CWT says it has through its investment holding arm, CWT International, invested in Westford Trade Services to provide trade finance services.

CWT says the investment will strengthen its commodity logistics capabilities and extend its network in the business. CWTI will take up a 35% stake in Westford Trade Services by injecting US$2 million ($2.78 million) towards the issued share capital of Westford Trade Services.

The issued share capital of Westford Trade Services will be increased to 5,714,286 shares at US$1 each.

CWT and Westford Investments, the existing major shareholder of Westford Trade Services, will each inject US$2 million towards the share capital, representing 35% each. The remaining 30% share of Westford Trade Services will be reserved for allocation as option shares to key management and a business associate who facilitated the joint venture, subject to conditions. The objective of the reserved shares is to align shareholders’ interests with Management’s interests.

Established in April 2009, Westford Trade Services focuses in trade finance services, leveraging on its strong in-house banking expertise and close connections with traders, stockists and manufacturers. With a team of qualified bankers in structured trade finance, Westford Trade Services undertakes transactions in secured structure for a selected range of product sectors.

Westford Trade Services shall have regional offices in London, Istanbul and Singapore, serving Europe, CIS, Africa, Middle East and Asia respectively.